MINNEAPOLIS, Nov. 26 /PRNewswire-FirstCall/ -- Uroplasty, Inc. announced today that it has closed the previously announced public offering of approximately 1.5 million shares of its common stock. The Company expects to use the net proceeds of approximately $4.7 million, after underwriting commissions and estimated offering expenses, primarily to expand its sales and marketing organization in the United States, to conduct clinical studies to support its marketing efforts and for general working capital purposes.
Craig-Hallum Capital Group LLC served as lead manager for the offering. Noble International Investments, Inc. acted as co-manager.
Uroplasty, Inc., headquartered in Minnetonka, Minnesota, with wholly-owned subsidiaries in The Netherlands and the United Kingdom, is a medical device company that develops, manufactures and markets innovative proprietary products for the treatment of voiding dysfunctions. Our primary focus is the commercialization of our Urgent PC(R) system, which we believe is the only FDA-approved non-surgical neurostimulation therapy for the treatment of overactive bladder symptoms (OAB). We also offer Macroplastique(R) Implants, a bulking agent for the treatment of urinary incontinence.
CONTACT: David Kaysen, President and CEO, or Medi Jiwani, Vice President,
CFO, and Treasurer, both of Uroplasty, Inc., +1-952-426-6140; or investors,
Douglas Sherk, +1-415-896-6820 or Julie Huang, +1-646-443-6963, or media,
Jennifer Saunders, +1-646-201-5431, all of EVC Group for Uroplasty, Inc.
Web site: http://www.uroplasty.com/
